ING Introduces 'Direct' 403(b) Program to Delaware Educators

ING is pleased to introduce the ING Educator's Direct 403(b) Program, a variable annuity issued by ING Life Insurance and Annuity Company, to education professionals in Delaware. ING Educator's Direct is a new program designed to help make retirement savings easier for education employees by combining simplicity, convenience, and cost-competitiveness.

Simplicity -- The Program's fund menu consists solely of target-date maturity funds. Employees simply choose a fund that most closely aligns with their expected retirement year and professional portfolio managers handle the rest. The asset allocation and investment mix are automatically adjusted over time, gradually becoming more conservative the closer the investor gets to their retirement goal date. This approach to retirement planning is designed to take the mystery out of investing and, as a result, encourage employees to start saving sooner.

Convenience -- Education employees can learn about and enroll in ING Educator's Direct at any time convenient for them -- education, enrollment, and account management are done entirely online. Online video tutorials provide information on the importance of saving for retirement. The program's online calculators are designed specifically for education professionals, taking into account the teacher's retirement system to help them get a better idea of how much they should save to meet their retirement objectives. Once they know how much to save, employees follow the simple steps to enroll online. If they have questions while enrolling, help is just a phone call away.

Cost -- There are no minimums to get started, and competitive fees are expected to be an attractive feature to many educators. This is especially important for younger teachers/employees, many of whom are paying off college loans and other debt.

In 2008, ING was one of thirteen companies selected as a provider for the State of Delaware's 403(b) Plan, which is available to employees at 39 Delaware educational institutions including the State Department of Education, all public and charter schools, and two higher education institutions.

"ING is proud to be a part of Delaware's program, and we're excited about helping education professionals in Delaware by offering a 403(b) program that makes it easier for them to start saving for retirement sooner in life," said Dan Hanlon, Senior Vice President of Public Market Sales. "Since 1967 ING has been on the forefront of offering retirement savings solutions to educators, a 403(b) program like ING Educator's Direct is yet another example of how we are committed to helping America's educators achieve their retirement goals," added Hanlon. More information about the ING Educator's Direct Program can be found at www.INGEducatorsDirect.com.

You should consider the investment objectives, risks, and charges and expenses of the variable product and its underlying fund options offered through a retirement plan, carefully before investing. The prospectuses/prospectus summaries contain this and other information, which can be obtained by contacting your local representative. Please read the information carefully before investing.

  Press inquiries:
  Deborah Pont
  ING US Retirement Services
  (860) 580-2678
  deborah.pont@us.ing.com

  About ING:

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million residential, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 130,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand. C08-1208-021

Insurance products, annuities and retirement plan funding issued by (third party administrative services may also be provided by) ING Life Insurance and Annuity Company. Securities are distributed by ING Financial Advisers, LLC (member SIPC), One Orange Way, Windsor, CT 06095. Securities may also be distributed through other broker-dealers with which ING Financial Advisers, LLC has selling agreements.

Variable annuities are long-term investments designed for retirement purposes. If withdrawals are taken prior to age 59-1/2, an IRS 10% premature distribution penalty tax may apply. Money taken from the annuity will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount invested. An annuity does not provide any additional tax deferral benefit, as tax deferral is provided by the plan. Annuities may be subject to additional fees and expenses to which other tax-qualified funding vehicles may not be subject. However, an annuity does provide other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you.

The Internal Revenue Code generally prohibits withdrawals of 403(b) salary reduction contributions and earnings on such contributions prior to death, disability, age 59-1/2, severance of employment, or financial hardship (The amount available for hardship is limited to the lesser of the amount necessary to relieve the hardship, or the account value as of 12/31/1988 plus the amount of any salary reduction contributions made after 12/31/1988 (exclusive of any earnings)). Amounts held as of 12/31/1988 are "grandfathered" and are not subject to these withdrawal restrictions.

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SOURCE: ING

CONTACT: Deborah Pont, ING US Retirement Services, +1-860-580-2678,
deborah.pont@us.ing.com

Web Site: http://www.ingeducatorsdirect.com/